Any current account holder of ICICI Bank can instantly download ‘Eazypay’ app and start using it. A non-customer of ICICI Bank can also use the app after opening a current account with the bank. The app is available on smartphones with Android operating systems. It will be shortly available for smartphones using the iOS operating system.

Ms. Chanda Kochhar, MD & CEO, ICICI Bank said, “Since the announcement of the demonetisation, we have proactively undertaken various measures to accelerate the shift to a digital economy. ‘Eazypay’ is yet another initiative to fulfill the vision of Digital India. I believe that the Eazypay mobile application is a path-breaking concept as it facilitates millions of merchants, retailers and professionals across the country to accept digital payments from various modes on a single mobile application. I believe this application will have broad base usage as it allows merchants to collect any amount digitally without any hassles of a daily or monthly limit on collection. Additionally, it can be used by upto 30 employees of a merchant simultaneously to collect payment on their mobile phones at multiple counters ‘in-the-store’ as well as ‘on-the-go’ like home deliveries. The money collected through this app directly goes to the current account of the merchants and professionals. Our existing customers do not need to visit a branch or submit any document for using the app.”

An illustration of the two easy steps to register for the mobile payment collection solution:

Download ‘Eazypay’ application on the smartphone having the mobile number that is registered with ICICI Bank. The application automatically fetches information of ICICI Bank Current Accounts linked to the mobile number. The user can select the default Current Account for receiving payments. There is no requirement to submit any documents or visit the bank branch.

Create an MPIN to login into Eazypay. Also user has to create their UPI ID for accepting payments through UPI. The UPI ID acts as a financial address for receiving money, without having to reveal your 16 digit bank account number and the 11 digit IFSC code.

Once downloaded, merchants can immediately begin to accept payments on the app over the counter. It is also possible to collect money in situations like home delivery of goods/services,telesales and payment-on-delivery options by e-commerce companies where the buyer and the seller are not physically present in the same location. The seller can raise an invoice in the app by simply entering the amount, selecting the preferred mode of payment by the buyer along with the buyer’s mobile number or VPA for UPI based payments. Thereafter, upon getting a notification on SMS, the buyer can simply enter his/her details to pay through credit / debit card / net banking or Pockets. For payment using UPI, the buyer can pay either by scanning a QR code displayed on the seller’s phone or directly through their VPA.

Eazypay comes with best-in-class security features. It allows only one registration for a unique mobile number and requires mandatory authentication with MPIN for every login, among others.

The other unique features of ‘Eazypay’ are:

For both over the counter payments and home deliveries: Eazypay is suitable for retail stores where the buyer pays at the counter. It can also be used to collect payment from the buyer during home deliveries, telesales and payment-on-delivery instances where the seller and buyer may not be physically present in the same location

Set collection date options: For accepting payments through UPI, the seller can choose to collect payment immediately or set up a later date upto 45 days

Easy reconciliation: Merchants get immediate payment confirmation in the ‘transaction history’ on the application as well as through SMS. The buyer also gets payment confirmation through SMS immediately for all the bills. The merchants get immediate credit to their current account for payments made using UPI and Pockets

Enables multiple employees to collect payment: The unique ‘sub merchant creation’ feature allows upto 30 employees to collect payment on behalf of the merchant on their smartphone. It offers a convenient option for collecting digital payments at retail stores with multiple billing counters or during home deliveries

No daily/monthly limits for accepting payments

To know more about ‘Eazypay’ mobile payment collection solution, please visit http://ow.ly/Oqvh307sPHy. To apply for an ICICI Bank current account, one can send an SMS to 5676766

The launch of ‘Eazypay’ comes close on the heels of a slew of technology-led innovative initiatives and services by ICICI Bank recently to accelerate digital transactions in the country. These include the announcement of the creation of ‘100 Digital Villages’ in as many days, increase of daily usage limits of debit cards for use at Point of Sale (POS) and online transactions till December 31, 2016, deployment of POS machines at merchant outlets, petrol pumps as well as office establishments for convenient withdrawal of cash. Additionally, we have deployed mobile branches in remote unbanked villages and also for door-step service at public utilities like hospitals.

The Bank services its large customer base through a multi-channel delivery network of 4468 branches, 14,295 ATMs, call center, internet banking (www.icicibank.com), mobile banking and social media banking (as at September 30, 2016).

About ICICI Bank: ICICI Bank Ltd (NYSE:IBN) is India’s largest private sector bank by consolidated assets. The Bank’s consolidated total assets stood at US$ 144.7 billion at September 30, 2016. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 17 countries, including India.

Thought for the day

Corp Comm with Chawm

Corporate Communications is one of the fastest growing specializations in world, as the faculty transforms from being just another marketing tool in the scabbard of the top management, to being the primary driver, in this, the age of information.

Information is today sought (and delivered) in an Instant and the efficiency with which the Communication team reacts to such demands often spells the difference between the winners and the also-ran’s, making it one of the most revered power centers of the corporate world.